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The Latest Breaking News from SVB Securities

SVB Securities to be rescued from limbo by end of May auction

According to SVB’s most recent bankruptcy filings, the company’s investment banking arm will be put on the block in May.

Fortune

The strange case of SVB Capital

Hundreds of pages of bankruptcy filings reviewed by Term Sheet outline the bizarre limbo the VC unit finds itself in.

Fortune

Who will bid for SVB?

The FDIC is still trying to sell the bank, which is having trouble finding a buyer.

Fortune

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Silicon Valley Bank’s parent company files for bankruptcy

SVB Financial Group files for chapter 11 protection but failed Silicon Valley Bank, now under FDIC control, is not part of bankruptcy

The Guardian - US

SVB Financial goes bankrupt, buying time to repay creditors

Silicon Valley Bank’s former parent company filed for bankruptcy a week after a run on deposits prompted regulators to seize its banking unit.

Tribune News Service

Silicon Valley Bank’s parent company files for bankruptcy following sudden collapse

SVB Financial Group is filing for Chapter 11 bankruptcy protection

The Independent UK

SVB is getting diced up for potential buyers

Investment banking, venture capital and more are on the block, but senior management are out the door.

Fortune

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SVB’s other businesses are on the block: What’s for sale and who may be a buyer?

SVB Financial named a restructuring committee to seek out alternatives for its non-banking units.

Fortune

Pharmaceutical Stocks Come Close To Cracking A Multibillion-Dollar RSV Vaccine Market

Big Pharma stalwarts are on the brink of launching the first-ever RSV vaccines, potentially enriching the pharmaceutical stocks.

Investors Business Daily

Why IBD Stock Of The Day Immunocore Has Rocketed 233% Since January

Immunocore is the IBD Stock Of The Day as expectations for triple-digit sales growth and future profits drive the biotech stock higher.

Investors Business Daily

Pfizer Quadruples Its Covid Shot Price — And Other Vaccine Stocks Rocket

Moderna snagged an upgrade Friday on views it will hike charges for its Covid vaccine, as Pfizer plans to charge up to $130 for its shot.

Investors Business Daily

IBD Stock Of The Day: Could 'The Biggest Drug Ever' Drive Eli Lilly Stock Even Higher?

Eli Lilly is the IBD Stock Of The Day as investors watch the company's obesity and Alzheimer's drugs, which could help shares skyrocket.

Investors Business Daily

How These Biotech Players Could Help Treat Covid-Fueled Depression

The "brain health pandemic" since Covid struck exposed a glaring void: Current depression treatments don't fit many patients' needs. A group of biotech stocks hope to change that.

Investors Business Daily

Merck Reportedly Eyes $40 Billion Seagen Tie-Up; Will The Deal Save Biotech?

Merck is now in advanced talks to buy Seagen for roughly $40 billion, according to reports that sent SGEN stock higher Thursday.

Investors Business Daily

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Benzinga

This Analyst Thinks Blueprint Medicines' Non-Dilutive Funding 'Deflates M&A Speculation'

Today Blueprint Medicines Corp (NASDAQ:BPMC) announced strategic financing agreements with Sixth Street and Royalty Pharma Plc (NASDAQ:RPRX) for up to $1.25 billion, including $575 million upfront upon deal closure. SVB Securities thinks the terms of the deals are fairly valued on the Sixth Street portion and favorable for Blueprint Medicines on the Royalty Pharma portion. "In addition,…

Benzinga

Pfizer, Moderna Analysts Respond To FDA COVID Booster Ruling: 'Revenues Will Decline'

The Food and Drug Administration’s panel of independent vaccine experts recently voted 19 to 2 to recommend a new batch of COVID-19 booster shots targeting the omicron variant this fall. The news, announced Tuesday, June 28, could have a big impact on the share prices of vaccine makers.

Benzinga

Xenon Pharmaceuticals Shares Drop On Proposed Public Offering

Xenon Pharmaceuticals Inc (NASDAQ:XENE) announced an underwritten public offering of its common shares. Underwriters of the offering will be granted an option for a period of 30 days to purchase an additional 15% of common shares at the public offering price. Jefferies, J.P. Morgan, SVB Securities, and Stifel are acting as joint…

Benzinga

SVB Leerink's Pro-forma Analysis Of Speculated Merck/Seagen Deal - What Investors Need To Know

SVB Securities conducted a pro-forma analysis of the financial impact to Merck & Co Inc (NYSE: MRK) from a potential acquisition of Seagen Inc (NASDAQ: SGEN).

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Benzinga

Analysts Remain Bullish Despite Caribou's Allogeneic CAR-T Hit By Durability

Caribou Biosciences Inc (NASDAQ:CRBU) announced the presentation of additional initial clinical data from its ANTLER Phase 1 trial for CB-010 in relapsed or refractory B cell non-Hodgkin lymphoma (r/r B-NHL). Following a single dose at the initial dose level of 40 million CAR-T cells, a 100% complete response (CR) rate (6 of 6…

Investors Business Daily

How Newcomer Arcellx Is Looking To Rival Johnson & Johnson In Cancer

Newcomer Arcellx could rival Johnson & Johnson in multiple myeloma, an analyst said as the biotech popped to a two-month high.

Benzinga

SVB Sees Strategic Value In This Stock As M&A Target In Autoimmune Space

SVB Securities initiated coverage on Argenx SE (NASDAQ:ARGX) with an Outperform rating and a $404 price target. Argenx's Vyvgart (efgartigimod) is a neonatal Fc-Receptor (FcRn) antagonist that selectively reduces IgG levels and has the potential to address numerous IgG-mediated autoimmune diseases. According to the analyst, Argenx has demonstrated strong early launch execution for Vyvgart…

Investors Business Daily

Travere Therapeutics Pops After Snagging Priority Review For A New Kidney Drug

The FDA accepted Travere Therapeutics' application for a kidney disease treatment on Monday, leading TVTX stock to surge higher.

Benzinga

Here's Why This Analyst Is On Sidelines Despite European Approval Of Myovant's Relugolix For Prostate Cancer

Myovant Sciences Ltd (NYSE:MYOV) received European approval for Orgovyx (relugolix, 120 mg) for advanced hormone-sensitive prostate cancer, and SVB Securities think Orgovyx could be a ~$1 billion product in advanced prostate cancer long term. But the surprise Myfembree setback in endometriosis has sparked uncertainty and new investor questions for Myovant's 2nd program. Hence, SVB remains on the…

Benzinga

Sio Gene Therapies Ditches Two Remaining Programs, Seeks Buyer(s), Shares Plunge

Sio Gene Therapies Inc (NASDAQ:SIOX) will terminate its licensing agreement with the University of Massachusetts to develop and commercialize gene therapy product candidates, including AXO-AAV-GM1 and AXO-AAV-GM2, for GM1 gangliosidosis and GM2 gangliosidosis, respectively. In parallel, the Company announced that it plans to explore and review a range of strategic alternatives. The Company…

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